Combining the Powers of India and China
Krystal last edited by Krystal
India has a young population, with over 60% under 35, and the country will likely have the largest workforce in the world by 2027. Deloitte has reported that by then, approximately 390 million people will belong to the millennial age group, with another 440 million Indians in Generation Z.
According to YOURSTORY, many have been keeping a close watch on India’s population, which is expected to drive the country forward in the era of fast-paced technological development.
Meanwhile, the Chinese people have been embracing the digital transformation with open arms. With the development of applications and digital services, internet users in China have surpassed 800 million users. The popularity of online shopping and entertainment has been growing rapidly, with Chinese firms fiercely competing to gain user share in the enormous market.
India has also seen great strides in the IT sector, with firms now pursuing applications related to blockchain, the Internet of Things (IoT), artificial intelligence (AI), big data analytics, as well as augmented reality (AR) and virtual reality (VR).
The number of internet users in India has also been on the rise, especially those using the Android operating platform, offering a unique opportunity to Chinese smartphone manufacturers as well as app developers. Chinese smartphone brands have met with success in the India market, with Xiaomi seeing its sales surge 259 percent in 2017.
With India’s growing workforce, the nation is expected to hold the biggest startup ecosystem in the world by 2035, providing a market for Chinese investors to catch onto the next unicorn.